22 Mar 2022 19:04

Nokian Tyres no longer investing in Russia, factory to continue operating

ST. PETERSBURG. March 22 (Interfax) - Nokian Tyres is no longer investing in tire production in Russia, the Finnish tire manufacturer said in a statement.

However the company's tire factory near Vsevolozhsk in the Leningrad region will continue to operate.

"By continuing to operate the passenger car tire factory in Russia we want to make sure that the factory is operated and controlled by Nokian Tyres also in the future. We no longer invest into the Russian production," the company said.

The plant in Russia opened in September 2005 and has 14 production lines capable of producing 17 million tires per year.

All Nokian Tyres' heavy tires are designed and manufactured in Finland. Tires for trucks and buses are designed in Finland and produced in the EU.